The Coalition has handed down the 2019 federal budget. So, where do you stand?
Just weeks out from a May election, there are plenty of winners and few who will be worse off under this budget.
WINNERS
Low to middle-income earners – The tax offset has been doubled to $1,080 per person earning between $48,000 and $90,000. The cash will flow to workers when they submit their tax return for the 2018-19 financial year.
Apprentices – A $525 million skills package is set to create 80,000 apprenticeships, who will each get a $2,000 payment.
Small businesses – The instant asset write-off has increased from $25,000 to $30,000 and will now be available to companies with a turnover of up to $50 million.
Commuters – As well as a huge investment in roads, there’s a $500 million commuter car park fund designed to take tens of thousands of cars off the road.
Mental health sector – Thirty new Headspace centres and more Indigenous youth support form part of a $461 million package for a youth mental health and suicide prevention strategy.
Older Australians – The government has funded 10,000 new home care packages and provided more financial support residential care.
LOSERS
Refugees – Newly-arrived refugees will now wait 12 months before accessing unemployment services, saving $77 million over four years, but the government has defended the move saying it allows refugees more time to focus on settling in and learning English.
Potential migrants – The budget confirms the already announced reduction in annual migration cap from 190,000 to 160,000.
Welfare recipients – The government expects to save an extra $2.1 billion in welfare payments through automating the reporting of employment income. While it’s not designed to change eligibility criteria or payments, those on welfare will be wary of the move after the robo-debt debacle.
Banks – The government will continue to clamp down on the financial sector following the banking royal commission with extra money allocated to regulators.
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